Happy City

Operates three Hong Kong all-you-can-eat hotpot restaurants under the Thai Pot and Gyu! Gyu! Shabu Shabu concepts. Food and beverage sales from dine-in, takeaway and delivery orders make up the business, with time-limited packages intended to support table turnover and a loyalty program that earns small revenue from expired points.

Competes on brand recognition, food quality, customer service and restaurant-level efficiency in a crowded Hong Kong dining market. Operations depend on leased locations, food-safety and restaurant licenses, and continued supplier availability; all restaurant revenue was generated in Hong Kong. A dual-class share structure gives the founder-controlled vehicle decisive voting influence, while Nasdaq trading remained halted pending an information review.